Which of the following items does not have to be presented as a line item on the face of a statement of profit or loss and other comprehensive income?
A) Closing inventories.
B) Post-tax profit or loss of discontinued operations.
C) Profit or loss attributable to non-controlling interests.
D) Revenue.

Question

Quizplus · Accepted Answer

Closing inventories are not presented as a separate line item on the face of the statement of profit or loss and other comprehensive income. Instead, they are included in the calculation of cost of goods sold or used in determining gross profit but are not listed separately on the income statement.

Which of the Following Items Does Not Have to Be